Foundations Investment Advisors LLC Raises Stock Position in AppLovin Corporation $APP

Foundations Investment Advisors LLC lifted its stake in shares of AppLovin Corporation (NASDAQ:APP) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,098 shares of the company’s stock after acquiring an additional 1,103 shares during the quarter. Foundations Investment Advisors LLC’s holdings in AppLovin were worth $6,130,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. CBIZ Investment Advisory Services LLC increased its position in shares of AppLovin by 58.6% during the third quarter. CBIZ Investment Advisory Services LLC now owns 46 shares of the company’s stock worth $33,000 after acquiring an additional 17 shares during the period. Redhawk Wealth Advisors Inc. increased its holdings in AppLovin by 2.9% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 640 shares of the company’s stock valued at $431,000 after buying an additional 18 shares during the period. Verdence Capital Advisors LLC increased its holdings in AppLovin by 5.7% during the fourth quarter. Verdence Capital Advisors LLC now owns 333 shares of the company’s stock valued at $224,000 after buying an additional 18 shares during the period. Claro Advisors LLC increased its holdings in AppLovin by 3.2% during the third quarter. Claro Advisors LLC now owns 647 shares of the company’s stock valued at $465,000 after buying an additional 20 shares during the period. Finally, Strategic Advocates LLC increased its holdings in AppLovin by 0.8% during the third quarter. Strategic Advocates LLC now owns 2,576 shares of the company’s stock valued at $1,851,000 after buying an additional 21 shares during the period. 41.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on APP shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $660.00 price objective on shares of AppLovin in a report on Thursday, May 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $700.00 price objective on shares of AppLovin in a report on Thursday, February 12th. Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of AppLovin in a report on Thursday. Zacks Research lowered shares of AppLovin from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Finally, Oppenheimer cut their price objective on shares of AppLovin from $740.00 to $660.00 and set an “outperform” rating on the stock in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $664.35.

AppLovin Price Performance

NASDAQ APP opened at $599.89 on Friday. The firm’s fifty day simple moving average is $453.17 and its two-hundred day simple moving average is $521.05. The company has a current ratio of 3.24, a quick ratio of 3.24 and a debt-to-equity ratio of 1.49. AppLovin Corporation has a 12-month low of $320.00 and a 12-month high of $745.61. The firm has a market capitalization of $201.53 billion, a P/E ratio of 51.54, a P/E/G ratio of 0.92 and a beta of 2.37.

AppLovin (NASDAQ:APP) last released its quarterly earnings results on Wednesday, May 6th. The company reported $3.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.12. AppLovin had a net margin of 64.29% and a return on equity of 219.37%. The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.77 billion. During the same period in the previous year, the company earned $1.67 earnings per share. The business’s revenue for the quarter was up 58.9% on a year-over-year basis. Analysts forecast that AppLovin Corporation will post 15.86 EPS for the current fiscal year.

Insiders Place Their Bets

In other AppLovin news, CEO Arash Adam Foroughi sold 50,000 shares of AppLovin stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $466.04, for a total value of $23,302,000.00. Following the transaction, the chief executive officer directly owned 2,480,414 shares of the company’s stock, valued at approximately $1,155,972,140.56. The trade was a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Vasily Shikin sold 62,804 shares of AppLovin stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $486.43, for a total transaction of $30,549,749.72. Following the completion of the transaction, the chief technology officer directly owned 3,255,273 shares in the company, valued at $1,583,462,445.39. This represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 454,964 shares of company stock valued at $213,046,785. 13.66% of the stock is currently owned by insiders.

Key Stories Impacting AppLovin

Here are the key news stories impacting AppLovin this week:

• Positive Sentiment: Morgan Stanley reiterated an Overweight rating and $720 price target, helping push shares sharply higher and reinforcing the view that Wall Street still sees more upside in APP. AppLovin Stock Is Having a Bad Year. Why It’s Today’s Top Performer in the S&P 500.
• Positive Sentiment: Needham & Company reaffirmed a Buy rating and raised its price target to $700, while Deutsche Bank also lifted its target to $660, signaling continued analyst confidence in AppLovin’s growth story. Benzinga report on Needham rating
• Positive Sentiment: The company’s recent earnings results were strong, with revenue up 58.9% year over year and both EPS and revenue beating expectations, supporting the bullish case for the stock. AppLovin stock overview
• Neutral Sentiment: A Zacks comparison piece said Coherent may be better positioned than APP due to valuation concerns, which highlights that AppLovin’s premium pricing remains a debate among investors. Coherent vs. AppLovin: Which AI Growth Stock is Better Positioned?
• Negative Sentiment: Recent SEC filings show CTO Vasily Shikin sold shares, which can create some caution around insider sentiment even though the sales were small relative to his remaining stake. SEC filing for insider sale

AppLovin Profile

AppLovin Corporation is a Palo Alto–based mobile technology company that provides software and services to help app developers grow and monetize their businesses. The company operates a data-driven advertising and marketing platform that connects app publishers and advertisers, delivering tools for user acquisition, monetization, analytics and creative optimization. AppLovin’s technology is integrated into a broad set of mobile applications through software development kits (SDKs) and ad products designed to maximize revenue and engagement for developers.

Key components of AppLovin’s offering include an ad mediation and exchange platform that enables publishers to manage and monetize inventory across multiple demand sources, and a user-acquisition platform that helps advertisers target and scale campaigns.